Electric vehicles are soon going to become a very major phenomenon all across the world as they provide a very crucial option in place of fuel-based vehicles. However, in the race of electric vehicles, two major companies that are competing today are Tesla and Rivian and owing to the significance these two companies have brought towards electric cars, it becomes essentially important to distinguish between these two in order to bifurcate their respective characteristics.
Tesla vs Rivian
The main difference between Tesla and Rivian is that the former is a company manufacturing electric cars on a very large scale and has recently closed a huge deal of approximately six lakh electric vehicles in just eight to 10 months. But on the other hand, the latter was established in 2000 has recently started selling its own vehicles and lags a little behind in valuation as compared to the former.
With an approximate valuation of $1 trillion, Tesla is one of the biggest names when it comes to automakers, especially in the United States of America. The company aspires to manufacture electric cars keeping in mind the principle of clean energy, and has been a very popular option among the consumers in the place of fuel-based vehicles.
But on the other hand, Rivian signifies another very popular car manufacturing company aspiring to provide electricity-based vehicles all across the world. Although the company was established in the year 2009, it has recently started making its first sales and has been in the news because of its infamous partnership with Amazon.
Comparison Table Between Tesla and Rivian
|Parameters of Comparison||Tesla||Rivian|
|Definition||The term defines a very popular company producing electric cars all across the globe.||The term defines another automobile company producing electric cars that have recently emerged into the market.|
|Parent company||The product of Tesla incorporated; a company based in Texas.||This is a product of Rivian automotive incorporated, a company based in Irvine|
|Launched in||The company was launched in the year 2003.||The company was launched in the year 2009|
|Products launched||There are a number of products launched by the company such as model X, Model s and Model 3.||This company is in its early stage of development and has manufactured two notable products till now.|
|Market capitalization||The total market valuation of the company is approximately $1 trillion.||The total market valuation of the company is approximately $15 billion.|
What is Tesla?
Formerly known as Tesla Motors incorporated, Tesla, is one of the biggest names in the market of electric cars and similar vehicles. The company has been in the market for the past two decades approximately, and since then, it has earned for itself a unique name. Based in Texas, the company is a very huge name in terms of vehicles operated with the charge of electricity and in plug devices.
In the era of vehicles working on fuel, the company came up with the idea of providing speed to the vehicles by the use of electricity that can be generated again and again using different technologies, and this is what made the company stand out among all the biggest competitors such as General Motors, etc.
Last checked, the entire valuation of the company was approximately $1 trillion, and with this data, the company stands as one of the biggest car manufacturing companies all over the world. The most famous models of the company can easily be named Model S, Model C and Model 3, and from its very inception, the company has been following the principle of generating clean energy in operating vehicles.
What is Rivian?
Based in the Irvine city of California, The United States of America, Rivian is another huge name in the league of companies manufacturing vehicles being operated on electrical energy rather than fuel-based energy. Although the company was established in the year 2009, it has recently started making sales as a huge name all across the United States.
The major reason behind the recently increased popularity of this company has been the initial public offering issued by this company recently that has seen a great response from investors all across the globe owing to the potential that the company has to offer. In the initial stage of manufacturing, the company has come up with the idea of an electric truck as well as an electric van, and to date, no electric cars per se have been manufactured by the company.
A very prominent feature promised by the company is that the vehicles manufactured by it can not only be used on specific roads but can also be operated on-off routes. Recently the company has been in the news for its infamous partnership with Amazon for the production of electric vehicles in the upcoming years to a very large and diverse extent.
Main Differences Between Tesla and Rivian
- Tesla is a very popular electric car manufacturing company based in Texas while on the other hand, Rivian is another electric car or manufacturing company based in Irvine.
- Tesla was founded in the year 2003 while on the other hand, Rivian was founded later in the year 2009.
- Tesla has a lot of automotive electrical products while on the other hand, Rivian has recently started manufacturing its products.
- Tesla has a total market valuation of approximately $1 trillion, while on the other hand, Rivian has a total market valuation of approximately $15 billion.
- Tesla has been making annual sales of many million dollars while, on the other hand, Rivian has started its first batch of sales recently.
In the past decade, the market for electric cars has increased at a very fast pace owing to the reason that fuel-based technologies are not so relevant today, and they are not very cost-effective and environmentally friendly as well. The very first company to come up with the idea of this particular phenomenon was Tesla, which was owned by Elon Musk, and since its inception, the company has served the consumer market with its wide variety of amazing products.
However, like any other consumer market, there has been the introduction of another rival company in the market of electric cars recently. A company named Rivian automotive incorporated has recently started manufacturing its own electric cars and electric trucks and is being considered as one of the major competitors of Tesla. But the most important part that exists is to differentiate between these two companies and their products in order to find the most preferable one.